Advent Development Holdings Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 08087343 (England and Wales)

Unaudited Financial Statements

for the Year Ended

31 May 2018

for

Advent Development Holdings Ltd

Page

Balance Sheet

1

Notes to the Financial Statements

2

FIXED ASSETS

Investments

4

201

200

CURRENT ASSETS

Stocks

210,544

5,750

Debtors

5

824,980

412,486

Cash at bank

3,564

406,084

1,039,088

824,320

CREDITORS

Amounts falling due within one year

6

766,653

434,194

NET CURRENT ASSETS

272,435

390,126

TOTAL ASSETS LESS CURRENT LIABILITIES

272,636

390,326

CAPITAL AND RESERVES

Called up share capital

7

100

100

Retained earnings

272,536

390,226

SHAREHOLDERS' FUNDS

272,636

390,326

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2018 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Profit and loss has not been delivered.

The financial statements were approved by the Board of Directors on 14 January 2019 and were signed on its behalf by:

T J Reeve - Director

M J Reeve - Director

1.	STATUTORY INFORMATION

Advent Development Holdings Ltd is a private company, limited by shares , registered in England and

Wales. The company's registered number and registered office address are as below:

Registered number:

08087343

Registered office:

Cold Moor Cote Farm

Chop Gate

Middlesbrough

Cleveland

TS9 7JJ

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102

"The Financial Reporting Standard applicable in UK and Republic of Ireland" and the Companies Act

2006 as applicable to companies subject to the small companies regime. The disclosure requirements

of section 1A of FRS102 have been applied other than where additional disclosure is required to give a

true and fair view.

The financial statements have been prepared under the historical cost convention.

Preparation of consolidated financial statements

The financial statements contain information about Advent Development Holdings Ltd as an individual

company and do not contain consolidated financial information as the parent of a group. The company

is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare

consolidated financial statements.

Related party exemption

Turnover

Turnover represents amounts receivable from sales, net of Value Added Tax, contracted during the

year on developed properties. Income is recognised by reference to the date of exchange in respect of

speculative property developments.

Income from management charges is recognised in the period to which the charge relates.

Investments in subsidiaries

Investments in subsidiaries are measured at cost less impairment.

Where the value of other investments can be reliably measured they are measured at fair value

through the profit and loss account. Where fair value cannot be measured reliably other investments

are measured at cost less impairment.

Stocks

Work in progress is valued at the lower of cost and net realisable value. Work in progress comprises

the cost of development land together with all construction and associated development costs incurred

at the balance sheet date.

Taxation

Current tax, including UK corporation tax is provided at amounts expected to be paid (or recovered)

using the tax rates and laws that have been enacted or substantively enacted by the balance sheet

date.

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at

the balance sheet date where transactions or events that result in an obligation to pay more tax in the

future or a right to pay less tax in the future have occurred at the balance sheet date. Timing

differences are differences between the company's taxable profits and its results as stated in the

financial statements that arise from the inclusion of gains and losses in tax assessments in periods

different from those in which they are recognised in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that, on the basis

of all available evidence, it can be regarded as more likely than not that there will be suitable taxable

profits from which the future reversal of the underlying timing differences can be deducted.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively

enacted by the balance sheet date and are expected to apply to the reversal of the timing difference.

Financial instruments

Financial assets and financial liabilities are recognised when the company becomes a party to the

contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual

arrangements entered into. An equity instrument is any contract that evidences a residual interest in

the assets of the company after deducting all of its liabilities.

All financial assets and liabilities are initially measured at transaction price (including transaction

costs), except for those financial assets classified as at fair value through profit and loss, which are

initially measured at fair value (which is normally the transaction price excluding transaction costs),

unless the arrangement constitutes a financing transaction. If an arrangement constitutes a financing

transaction, the financial asset or financial liability is measured at the present value of the future

payments discounted at a market rate of interest for a similar debt instrument.

The following assets and liabilities are classified as basic financial instruments - Other debtors, cash

and bank balances, trade creditors and inter-company balances.

Other debtors, cash and bank balances, trade creditors and inter-company balances (being repayable

on demand) are measured at the amortised cost equivalent to the undiscounted amount of cash or

other consideration expected to be paid or received.

Impairment of assets

Assets are assessed for indicators of impairment at each balance sheet date. If there is objective

evidence of impairment, an impairment loss is recognised in profit and loss as described below.

Financial assets

For financial assets carried at cost less impairment, the impairment loss is the difference between the

asset's carrying amount and the best estimate of the amount that would be received for the asset if it

were sold at the reporting date.

Where indicators exist for a decrease in impairment loss, and the decrease can be related objectively

to an event occurring after the impairment was recognised, the prior impairment loss is tested to

determine reversal. An impairment loss is reversed on an individual impaired financial asset to the

extent that the revised recoverable value does not lead to a revised carrying amount higher than the

carrying value had impairment not been recognised.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2017 - 2 ) .

4.	FIXED ASSET INVESTMENTS

Shares in

Interest

group

in joint

undertakings

venture

Totals

£

£

£

COST

At 1 June 2017

100

100

200

Additions

1

-

1

At 31 May 2018

101

100

201

NET BOOK VALUE

At 31 May 2018

101

100

201

At 31 May 2017

100

100

200

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Amounts owed by group undertakings

443,342

387,398

Other debtors

381,638

25,088

824,980

412,486

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Trade creditors

-

49,554

Amounts owed to joint ventures

100

100

Taxation and social security

1,119

171,690

Other creditors

765,434

212,850

766,653

434,194

7.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2018

2017

value:

£

£

50

Ordinary A

1

50

50

50

Ordinary B

1

50

50

100

100

All shares have equal voting rights and rank pari passu